The Property Information Book is key for my Sellers. When I get a new listing for Palos Verdes real estate, I have my Sellers fill out all the disclosures and order all reports on the property prior to the property actually hitting the Multiple Listing Service. The Property Information Book stays at the property for potential buyers to view and packets of these reports/disclosures are available for...
This has been a very hopeful week for the country with the Inauguration and the new administration in the White House. We did have some negative news regarding Bank of America's fourth quarter results but mortgage rates have been holding steady. 4.75% interest for a 30-year fixed conforming loan is a great rate. 6.250% for a 30-year fixed jumbo loan is almost a full point lower than my last...
Yesterday, there were 28 homes on the Palos Verdes real estate Broker's Tour. I saw 15 properties which was quite a feat as they were spread out in four different cities. We currently have 254 active single family homes for sale in Palos Verdes ranging in price from $729,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $585,000). There are 53 townhomes/condos for sale...
The numbers are in and owners of Palos Verdes Real Estate single family residences experienced a 6.2% decline in 2008 average sales price compared to 2007. That is actually not bad compared to the rest of Los Angeles County which was down about 28%. Home values on the Palos Verdes Peninsula have held fairly steady: 2008 was the first year of declines in recent memory. Palos Verdes homeowners...
Conventional wisdom tells us that we do not know if we have hit bottom until we are on the way up. Trying to "time" the bottom is a matter of luck. For buyers of Palos Verdes real estate I encourage them to consider the following: 1) Interest Rates are at historic lows. 4.75% for conforming 30-year fixed and 6.625% for jumbo 30-year fixed rate loans. 2) Many buyers are sitting on the...
There were only 7 homes on this first Palos Verdes real estate Broker's Tour for 2009. We currently have 224 active single family homes for sale in Palos Verdes ranging in price from $699,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $599,000). There are 53 townhomes/condos for sale priced between $269,900 and $2,000,000. My favorites were: Larissa...
I am often asked by owners of Palos Verdes real estate which remodeling projects will give them the greatest return on their investment. The answer is siding replacement, window replacement and major kitchen remodel according to the December 2008 Realtor Magazine. This article covers areas around the country and states, "Pacific Coast cities recorded the best payback on remodeling by a wide...
I thought it would be fun to go through 2008's Top Tuesday Tour Tips for Palos Verdes real estate and pick my favorites, tell you why and give you an update on those properties. My favorite listing is my own listing at 838 Rivera Place, Palos Verdes Estates; it is a 4 bedroom, 3 bath, 3,025 square foot home for $2,449,000 (original price was $2,499,000. This Lunada Bay home is lavishly...
Conforming interest rates are the lowest they have been in 4 years! And there has been much talk on both the network news and in print of the Federal Reserve lowering the rate to zero percent. Now, don't get too excited - this does not mean that you and I can get loans for zero percent. This Fed Rate is the rate that banks charge each other. This appears to be in step with the Federal Reserve's...
After hearing from an agent in Northern California that their appraisal guidelines had been changed, I called Robert Riede from the Appraisal Connection (310-768-8700) to get the latest on our appraisals here for Palos Verdes real estate. Robert confirmed that lenders had really tightened their guidelines for appraisals with most lenders requiring at least 2 comps from the last 90 days. Some...